Troubled steel plant "suspends operations of blast furnace"

The Smederevo-based steel maker Železara will temporarily suspend operations of the second blast furnace in the first week of July, it has been announced.

Izvor: Beta

Wednesday, 27.06.2012.

14:01

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The Smederevo-based steel maker Zelezara will temporarily suspend operations of the second blast furnace in the first week of July, it has been announced. The Beta news agency reported that trade unions of the metal sector demanded that this be prevented and announced a union struggle in case the stoppage lasted for more than two weeks. Troubled steel plant "suspends operations of blast furnace" "Because of the need to change the system of financing, the management of the Smederevo Steelworks has decided to switch the operation of the second blast furnace to slow running regime, in the first week of July," it was stated by the factory. They added that it cannot be estimated at this time how long the steel plant will remain in this operating regime, i.e. when it will have enough raw material to relaunch production and secure the continuous operation of the blast furnace. "Our expectation is that this will happen no later than the end of September, when it should be known whether we will have a strategic partner or, if the tender for the strategic partner fails, we will establish a long-term commercial partnership," read the statement. Zelezara Smederevo was earlier this year bought back by the state from U.S. Steel, which aquired the company when it was privatized in 2003. The entrance to Zelezara Smederevo (Tanjug) Beta

Troubled steel plant "suspends operations of blast furnace"

"Because of the need to change the system of financing, the management of the Smederevo Steelworks has decided to switch the operation of the second blast furnace to slow running regime, in the first week of July," it was stated by the factory.

They added that it cannot be estimated at this time how long the steel plant will remain in this operating regime, i.e. when it will have enough raw material to relaunch production and secure the continuous operation of the blast furnace.

"Our expectation is that this will happen no later than the end of September, when it should be known whether we will have a strategic partner or, if the tender for the strategic partner fails, we will establish a long-term commercial partnership," read the statement.

Železara Smederevo was earlier this year bought back by the state from U.S. Steel, which aquired the company when it was privatized in 2003.

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